Economic growth and financial depth : is the relationship extinct already?
著者
書誌事項
Economic growth and financial depth : is the relationship extinct already?
（WIDER discussion paper, No. 2005/10）
United Nations University, World Institute for Development Economics Research, 2005
大学図書館所蔵 件 / 全1件
-
該当する所蔵館はありません
- すべての絞り込み条件を解除する
この図書・雑誌をさがす
注記
"December 2005."
Includes bibliographical references (p. 19-20)
Summary: Although the finance-growth nexus has become firmly entrenched in the empirical literature, studies that question the strength of the empirical results have appeared and seem to have become more frequent as well. In this paper we re-examine the core cross-country panel results that established the relationship between financial depth and growth rates. We examine the sensitivity of the core result to changes in time period and variation in the sample of countries included. We find that the finance-growth relationship in [i.e. is] not as strong with more recent data as it was in the original studies with data for the period from 1960 to 1989. We offer two possible explanations. first, financial depth may have had greater value as a shock absorber in the 1970s and 1980s, decades characterized by worldwide nominal shocks. Second, the spread of financial liberalization in the 1980s may have led to increasing financial depth in countries that lacked the legal or regulatory infrastructure to successful
Also available from the Internet at www.wider.unu.edu
HTTP:URL=http://www.wider.unu.edu/publications/publications.htm